Synopsis
The lowest bid that can be placed is JKM minus $0.3 per mmBtu. The highest acceptable bid would be JKM plus $2.01 per mmBtu.
AP
Reliance Industries and BP have sought bids for 5.5 million metric standard cubic meters per day (mmscmd) of gas available for sale from their KG D6 block.
The e-auction is slated for April 23 and the gas supply will start from late April or early May, as per the tender document. Bidders will have to quote a price linked to Platts JKM (Japan Korea marker), the liquefied natural gas (LNG) benchmark price assessment for spot physical cargoes.
The lowest bid that can be placed is JKM minus $0.3 per mmBtu. The highest acceptable bid would be JKM plus $2.01 per mmBtu.
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